Upromise by Sallie Mae Spreads Holiday Cheer with Increased Cash Back for College

Give Gifts and Get Cash Back For College on Holiday Shopping with the Upromise Credit Card

NEWARK, Del.--()--Upromise by Sallie Mae is spreading 2011 holiday cheer with rewards of 11 percent cash back for college when members use their Upromise World MasterCard credit card from Bank of America to make eligible online purchases through Upromise.com now through Dec. 31. That’s on top of cash back offers of 10 percent or more with select online retailers. For example, at Upromise online merchants BestBuy, Target, Gap, Nordstrom and the Apple store Upromise members can earn a range of 12 to 16 percent cash back on eligible purchases. There is no limit on the amount of college savings a cardholder can earn. Details about rates, fees and benefits associated with the Upromise credit cards are available at Upromise.com/cardcenter.

“Gift givers will find that they don’t have to postpone holiday shopping to get a great deal this year,” said David Coppins, president of Upromise, a service of Sallie Mae, the nation’s No. 1 financial services company specializing in education. “With college savings more than doubled in many cases, you can give and receive.”

Free to join at Upromise.com, members have earned more than $625 million in cash rewards since 2001 to help save and pay for college. Cash earned from everyday spending goes directly into a Upromise account and can be invested in a tax-deferred 529 college savings plan, deposited into a Sallie Mae High-Yield Savings Account, used to help pay down an eligible Sallie Mae student loan, or requested by check. So far in 2011, members have earned more than $45 million through Upromise, and added $13.2 million into Upromise 529 plans, deposited $1.6 million in Sallie Mae High-Yield Savings Accounts and transferred $3 million to pay down Sallie Mae student loans.

Sallie Mae (NYSE: SLM) is the nation’s No. 1 financial services company specializing in education. Serving 23 million customers, Sallie Mae offers innovative savings tools, tuition payment plans and education loans that promote responsible financial habits and reward success. Through its subsidiaries, the company manages or services $234 billion in education loans and administers $38 billion in 529 college savings plans. Members of its Upromise college savings rewards program have earned $625 million to help pay for college. Sallie Mae is also one of the leading financial service providers for universities and governments at all levels, including supporting $8 billion in ecommerce transactions annually at nearly 1,000 campuses. More information is available at www.SallieMae.com. SLM Corporation and its subsidiaries, commonly known as Sallie Mae, are not sponsored by or agencies of the United States of America.

Contacts

Upromise
Debby Hohler, 617-454-6741
dhohler@upromise.com

Release Summary

Upromise by Sallie Mae is spreading holiday cheer with rewards of 11% cash back for college with the Upromise World MasterCard credit card on eligible online purchase at 900+ participating merchants

Contacts

Upromise
Debby Hohler, 617-454-6741
dhohler@upromise.com